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Stock Market & Financial Investment News

News Breaks
February 12, 2014
09:19 EDTCLFActivist Casablanca to back former Metals USA CEO to lead Cliffs, NY Times says
Casablanca Capital, the activist hedge fund urging changes be made at Cliffs Natural Resources, plans to back Lourenco Goncalves, the former CEO of Metals USA, as its choice to lead the company and plans to nominate a slate of candidates to replace a majority of Cliffs’s board, according to New York Times' DealBook. Reference Link
News For CLF From The Last 14 Days
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June 30, 2015
14:34 EDTCLFIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.

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